Key Points
- Transaction: JLL has successfully arranged a $42 million refinancing loan for the Portola Bridge Creek apartment community.
- Financing Source: The financing was provided through a Fannie Mae loan.
- Property Details: Portola Bridge Creek is a 270-unit, garden-style residential property built in 1989.
- Location: The property is situated at 9211 NE 15th Ave., in the Hazel Dell North area of Vancouver, Washington.
- Borrower: The owner and borrower is SB Real Estate Partners, an investment firm based in Irvine, California, which has held the asset since 2022.
- JLL Team: The transaction was led by JLL’s Charles Halladay, Rick Salinas, and Elijah Lax.
- Amenities: Residents have access to various amenities, including a swimming pool with grills, a playground, dog parks, a 24-hour fitness centre, and automated package lockers.
Vancouver, Washington (Evening Washington News) August 12, 2026 – Global commercial real estate services firm JLL has successfully secured $42 million in refinancing for Portola Bridge Creek, a prominent 270-unit garden-style apartment community located in Vancouver, Washington. The transaction, facilitated through Fannie Mae, provides fresh capital for the property, which has been under the ownership of Irvine, California-based investment firm SB Real Estate Partners since 2022.
Who led the JLL team in this $42 million refinancing deal?
As reported by Lynn Peisner of Multifamily & Affordable Housing Business, the complex financial arrangement was spearheaded by a dedicated JLL team. The firm successfully utilized its relationship with Fannie Mae to secure the $42 million loan, ensuring that the borrower, SB Real Estate Partners, could effectively refinance the debt on the Washington-based asset. The JLL team overseeing the transaction included Charles Halladay, Rick Salinas, and Elijah Lax, who managed the deal’s execution from inception to completion.
Where is the Portola Bridge Creek property located?
The Portola Bridge Creek development is strategically positioned in the Pacific Northwest market. According to details provided by Multifamily & Affordable Housing Business, the residential community is located at 9211 NE 15th Ave., specifically within the Hazel Dell North area of Vancouver, Washington. The property’s location in the greater Vancouver area remains a point of interest for investors looking to capitalise on the consistent demand for rental housing in the region.
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When was Portola Bridge Creek built, and what does it offer to residents?
Originally constructed in 1989, Portola Bridge Creek has served the local community for several decades. Despite its age, the property continues to provide modern living standards through its diverse range of floor plans. As outlined in the report by Lynn Peisner for Multifamily & Affordable Housing Business, the complex features one-, two-, and three-bedroom apartment units designed to accommodate a variety of household sizes.
To maintain competitiveness in the current rental market, the property offers a robust suite of community amenities. These facilities include a swimming pool equipped with poolside grilling areas, a playground, and dedicated dog parks to cater to pet owners. Furthermore, residents have access to modern conveniences such as a 24-hour fitness centre and an automated Amazon package locker system, which has become an essential amenity in contemporary multifamily living.
What is the background of the borrower, SB Real Estate Partners?
The borrower, SB Real Estate Partners, is an investment group headquartered in Irvine, California. As documented by Multifamily & Affordable Housing Business, the company has maintained ownership of the Portola Bridge Creek community since 2022. By securing this $42 million Fannie Mae refinancing package, the firm appears to be strategically managing its debt structure as part of its long-term investment strategy for this particular asset in the Vancouver multifamily market.
